MidCap Financial Investment Corporation (NASDAQ:MFIC) Plans $0.38 Quarterly Dividend

MidCap Financial Investment Corporation (NASDAQ:MFIC) declared a quarterly dividend on Thursday, November 6th. Stockholders of record on Tuesday, December 9th will be paid a dividend of 0.38 per share on Tuesday, December 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 12.8%. The ex-dividend date of this dividend is Tuesday, December 9th.

MidCap Financial Investment has decreased its dividend by an average of 0.0%per year over the last three years. MidCap Financial Investment has a dividend payout ratio of 101.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect MidCap Financial Investment to earn $1.60 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 95.0%.

MidCap Financial Investment Stock Down 2.1%

Shares of MFIC stock traded down $0.25 during trading hours on Friday, reaching $11.87. 204,798 shares of the company’s stock were exchanged, compared to its average volume of 443,628. MidCap Financial Investment has a 1 year low of $10.18 and a 1 year high of $14.74. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.49. The stock has a market cap of $1.11 billion, a PE ratio of 11.01 and a beta of 1.00. The stock’s fifty day moving average price is $12.19 and its two-hundred day moving average price is $12.50.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.38. MidCap Financial Investment had a net margin of 30.60% and a return on equity of 10.44%. The company had revenue of $82.58 million during the quarter, compared to analyst estimates of $83.56 million. Research analysts predict that MidCap Financial Investment will post 1.73 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $13.00 price objective on shares of MidCap Financial Investment in a report on Monday, August 25th. Weiss Ratings reissued a “hold (c)” rating on shares of MidCap Financial Investment in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on shares of MidCap Financial Investment from $12.50 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Keefe, Bruyette & Woods downgraded shares of MidCap Financial Investment from an “outperform” rating to a “market perform” rating and set a $14.00 price objective on the stock. in a report on Wednesday, July 23rd. Finally, Raymond James Financial set a $13.50 target price on MidCap Financial Investment and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.42.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.